AFC Gamma, Inc. (NASDAQ:AFCG) Q4 2023 Earnings Call Transcript

We are sitting – we are going to wait for the Cannabis 3.0, 2.0 was done. I think a lot of the legacy players have a lot of problems. We are happy to get the liquidations and exits that we did. We think we did a good job. Dan’s done a phenomenal job really from an operating lens, taking a look at these – the operating businesses, what they are worth and how they should be run. And that’s a very different approach. Maybe I should have done that a year or 2 years ago, but happy to have Dan here now with that approach. So, I am excited about cannabis, and I am equally excited about real estate. Look, our shareholders AFC are going to own about one-third of their stock in SUNS and SUNS will be spun out. And I am pretty excited about that too.

The opportunity in real estate, I am a direct lender by background. I build a $5 billion direct lending industry. In direct lending – also direct-lending in real estate, direct lending in private equity is same things. The regionals are pulled back. They are taking lower LTCs and that opportunity set is going to be phenomenal for SUNS and we are excited about – I am excited about the opportunity set there and the cannabis. So, I think you have got two really great opportunities that are going to be led by two great leaders.

Pablo Zuanic: Thank you. That’s very helpful. Thank you.

Operator: That concludes today’s question-and-answer session. This concludes today’s conference call. Thank you for participating. You may now disconnect.